Jerome Is Waymo Bullish on BTC

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Sean H. & Jocelin A.
December 05, 2024 • Estimated Reading Time: 10 minutes

TLDR

MARKET RECAP → U.S. stocks dipped on Thursday as investors stayed cautious ahead of Friday’s key jobs report.

WAYMO TARGETS MIAMI FOR ROBOTAXIS→ Waymo is heading to Miami, planning robotaxi service by 2026. With $5.6B in funding, it's racing past rivals like Cruise and Tesla in the autonomous vehicle space. 🚖

BITCOIN GAINS LEGITIMACY FROM FED COMMENTARY→ Bitcoin soared past $100K as Fed Chair Powell compared it to gold, not the dollar, fueling credibility and market optimism amid pro-crypto policies. 🪙

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TODAY’S TOP NEWS

Waymo Targets Miami For Robotaxis

🛞 Waymo announced its expansion to Miami, starting with human-driven tests in 2025 and launching its fully autonomous robotaxi service by 2026. The move reflects its confidence in handling challenging weather conditions, having previously tested in Miami to refine wet-weather performance.

🌴 The company’s Miami expansion comes alongside its rapid U.S. growth, including removing its Los Angeles waitlist and partnerships with Uber and Moove for fleet management. Waymo's self-driving vehicles already serve major metros like San Francisco, Phoenix, and LA, clocking 150,000 paid rides weekly.

💰 Backed by a $5.6 billion funding round, Waymo continues to outpace rivals like GM's Cruise and Tesla, leveraging partnerships and cutting-edge technology to dominate the robotaxi market. With competitors eyeing launches in 2025, the race for autonomous mobility leadership intensifies.

TODAY’S TOP NEWS

Bitcoin Gains Legitimacy From Fed Commentary

🪙 Bitcoin surged past $100,000 after Fed Chair Jerome Powell compared it to gold rather than the U.S. dollar, highlighting its speculative asset status. His comments at the DealBook Summit gave crypto enthusiasts a sense of mainstream credibility.

📈 Market analysts viewed Powell’s remarks as a boost for Bitcoin’s legitimacy as a major asset class. The comparison to gold underscored Bitcoin’s potential for growth, with its market size still a fraction of gold's.

🔑 Additional momentum came from pro-crypto sentiment by President-elect Trump, whose policies and SEC nomination of crypto-friendly Paul Atkins signaled a potential regulatory tailwind. Bitcoin rose nearly 50% post-election, solidifying its bullish run.

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